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Five Apartment Buildings Hit Market for $48M

NEW YORK CITY-The sellers, locally based investors, are moving on after owning the properties for 25 years. The buildings can be sold as a package or individually.

By Natalie Dolce | Updated on May 21, 2008

[IMGCAP(1)]NEW YORK CITY-Five apartment buildings situated in Washington Heights and Fort George neighborhoods here are on the market for sale. The buildings are priced at $48 million for the portfolio, but can also be sold individually, sources tell GlobeSt.com.

The address of two of the buildings, situated one block from Columbia Presbyterian Hospital, is 1083-1091 St. Nicholas Ave. also known as 545 W. 164th and 540 W. 165th streets. The two six-story elevatored block front properties contain 106 apartments and 13 stores, totaling 135,462 sf with 220 feet of retail frontage on St. Nicholas Avenue. Together, the buildings are priced at $22.5 million.

[IMGCAP(2)]Another pair of buildings, located in the Fort George section of northern Manhattan, are located at 1621-1639 St. Nicholas Ave. also known as 601 W. 191st and 600 W. 192nd streets. Also six stories, these two multifamily residential properties offer 76 apartments and nine stores comprising 95,126 sf with 200 feet of retail frontage on St. Nicholas Avenue. They are priced at $18.5 million.

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